To be quite clear, the comment about “insider trading” wasn't made by me, nor do I share that view.
Lang Walker offloaded his whole holding in BTC last August at 10c per share. The share price rose 50% the following week. The share price also rose after Lang Walker sold off his holding in ACR a number of years ago. No accusations of “insider trading” there.
We have no idea why Lang Walker chose to sell a chunk of his shareholding 2 weeks ago. I’d observe that he sold approximately 22% of his holding for the sum of $10 million, which represents what he paid for his whole shareholding back in 2012. So, he has simply redeemed his original investment. Why two weeks ago? Probably, like others, he received advice that there could be a major market downturn on the back of the Coronavirus and prudently protected his original investment. As for why he sold at 10% below the market price, I just see that as what a pragmatic seller is willing to do if they want to quickly offload a large parcel of shares in a stock that isn't highly liquid.
As for my view, in addition to not believing that Walker’s sale was “insider trading”, I also don’t believe that there have been any negative “leaks” coming from the trial.
NEU Price at posting:
$1.82 Sentiment: Hold Disclosure: Held
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